Author Topic: Looking for Most Concise Rationale For SmartCoins  (Read 5443 times)

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Offline tbone

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To me, smart coins are primarily a stable way to store value securely on the blockchain.  They are 100% within your control and can be transferred or exchanged quickly and with relatively little cost.

Offline morpheus

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Very Simply:  you don't have to worry about this:


Offline Akado

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What is a smartcoin?
A trustless token representing the value of a certain asset? I think that's the main advantage of a smartcoin.

What makes them special?

- "Accessible" to anyone who has internet connection. In practice, is not that easy atm, but I guess that's the objective.
I don't know if I'm pushing it with this but
- They aren't subject to any law from any jurisdiction, hence, they can't be seized and taken away. Ie. Not subject to Civil Forfeiture law. I don't, if this can, however be applied to the owner of the smartcoins.
- This consequently makes people more independent from a system that they themselves don't even know how it works due to its complexity and that can easily abuse its power
- This consequently makes (or should) make their use and management less restricted and easier for anyone.
- Facilitates the life of the unbanked


In a simple sentence I would say it makes any asset more accessible to anyone (even though it's just a representation of its value) and people aren't subject to abuses from the law. At least, not as easily. It gives them more independence.

I prefer not to use the sentence "it gives power back to the people" as that might be misunderstood as some ideal or more radical political view and can be easily misjudged and immediately ignored by some.

I think this would the easy route, for anyone. Then you could go in more detail for traders and people into that kind of stuff like hedging, ability to switch from an asset to another literally in seconds, etc
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Offline Riverhead


Smartcoins allow individuals and organizations to store and transact value autonomously. With rules of trade and ownership enshrined and protected cryptographically in a blockchain smartcoins are not subject to the whims of power like fiat. Economic incentives of the free market work to uphold the buying power of a smartcoin without the need for declarative value from a ruling party. The ledger of smartcoin ownership is distributed and immutable; much like sport scores are recorded in many places and over time become impossible to falsify.

Examples:
(more later)

Offline bytemaster

I am looking for help producing a concise rationale for why SmartCoins are needed, what makes them unique and special.  What makes them secure.  I would like to consider the following rules for describing this:

1. We shouldn't talk about HOW they are created (don't mention collateral, market, etc)
2. We should talk about why they are more secure than bank deposits.

A quick list of all implementations of "smart coins" and how they achieve meet the criteria of being special and better than IOUs. 

I guess a SmartCoin is NOT an IOU and thus NOT a liability of anyone else.  How can we express this in a POSITIVE form, ie: define what it is without saying what it isn't? 
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